Mixed feelings were seen among leading Vietnamese businesses over the global economic prospect in 2009, citing opportunities from other countries’ demand stimulation efforts amidst fears of the continued global economic downturn.

At a forum on January 2, the head of the Central Institute on Economic Management (CIEM), Dinh Van An, said that the global economy is predicted to continue slowing down in 2009, with negative impact on many Vietnamese enterprises, especially exporters.

The global economic crisis would bring in several opportunities with other governments offering large-scale promotion packages and making concerted inter-governmental efforts to solve the crisis, senior economist An said.

In addition, Viet Nam remains attractive to foreign investors, ranking third after China and India, he said.

“Many foreign investors have unveilled their expansion plans in Viet Nam in the years to come, sending out positive signals for the national economy and creating more motivations for domestic production,” he said.

The head of the CIEM’s Macro Economic Department, Nguyen Dinh Cung, said local enterprises should improve their business administration, which remained their weakest point, in order to be attractive to investors.

Other delegates suggested that Viet Nam focus on industries with volumes of stockpiled products in warehouses such as coal, steel, cement and fertilisers to generate jobs and stimulate spending.

The forum, co-sponsored by the Viet Nam Net e-newspaper and the Vietnam Report Joint-stock Company (Vietnam Report), witnessed the announcement of the list of the nation’s 500 largest enterprises, the VNR-TOP 500, with the State-run Vietnam Oil and Gas Group (PetroVietnam) ranking first.

This is the second year Viet Nam Report has compiled the list following the Fortune-500 model. The enterprises are ranked in order of revenues. Meanwhile, the Financing and Promoting Technology Joint-Stock Company (FPT) tops the Vietnam Report list of 500 largest private enterprises.